Stay Updated on the US Dollar Exchange Rate
As another Sunday arrives, it is important to stay informed about the latest fluctuations in our national currency, the US dollar, even though financial markets are closed during weekends.
The Greenback Strengthens Against Global Currencies
At the close of business on Friday, June 16, the US dollar experienced a slight rise, gaining ground and strengthening against various currencies worldwide. The dollar index (DXY), which measures the currency’s strength against a basket of the six most relevant global currencies, recorded a 0.18 percent increase, settling at 102.30 units, according to data from the financial portal investing.com.
Impact of the Federal Reserve’s Monetary Policy Decision
The recent monetary policy decision of the US Federal Reserve (Fed) has contributed to the rise in the dollar. Last Wednesday, the central bank announced a pause in its interest rate hikes. However, Fed Chairman Jerome Powell indicated that the situation may change in the coming months. The Fed’s objective remains to reduce inflation to two percent, suggesting the possibility of a couple more interest rate increases in 2023, possibly by 25 basis points.
Inflation in the United States
As of now, inflation in the United States, compared to May, stands at 4 percent according to the Consumer Price Index.
Exchange Rate of the US Dollar on June 18
Here is the exchange rate of the US dollar on Sunday, June 18, in Mexico, Honduras, Guatemala, and Nicaragua, based on the latest update from Investing.com.